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Hi whatever I've, I've published on the videos. If you want more practise please do more exam style questions. Hope this helps,

Sorry, there is some calculation error. You are correct. The actual figure should be £1,612.50.

Hi, Thank you for the request, Please give me a couple of weeks I'll definitely upload.

I'm very touched, thank you so much

Hi, we require 95 sq.metres for the special order, imagine the company has only 40 sq.metres (which is 125- 85 = 40). The balance 55 sq.metres they've to buy at a higher price of £7.45 per sq.metre (which is going to be 55 x 7.45 = £409.75) and the 40 sq.metre they can charge the usual price of £7.30 (40 x 7.30) =£292. Therefore the total relevant cost of this material is £701.75 (409.75 + 292). Hope this helps.

Thank you for the enquiry. You can write standard price as well.

@@managementaccountingmadeea5236 thank you

Thank you so much for the compliment. I'll be uploading soon.

Thank you.

The old price per litre is £2.20 (£275/125 litres), there is a price increase of 1.5%. The price increase is £2.20 x 1.5% = 0.033. Therefore the new price is £2.233 (Please listen to mine at 11.23 minutes and I'm saying it's £2.233). NOT 2.33, Hope this helps.

Many thanks for your comment. So sorry for the delay in uploading the videos. I'll be uploading very soon.

Many thanks for the comment. Please bear with me, I'll definitely upload more.

It's called the total sales margin variance, you can calculate this variance by using this formula: Budgeted sales quantity x (Budgeted selling price per unit - Budgeted cost per unit) Less Actual sales quantity x (Actual selling price per unit - Budgeted cost per unit). You've to use the budgeted cost for both. Hope this helps

@@managementaccountingmadeea5236 Thanks, but this formula, in essence, is still sales price variance + sales volume variance, right ?

Yes, you are right. The total variance is the addition of the individual variances. Using the above formula, if you get a positive answer, then it's a (F) variance and a negative answer means it's an adverse variance.

Please give me some time, I'll definitely do it.

Thank you very much. Please bear with me I'll upload more videos soon.

Many thanks for the comment, please bear with me, I'll definitely upload more.

Hi, if the company uses the gypsum in the new contract, it has to buy the plaster from an outside supplier. - At the moment, it is producing plaster using the gypsum at a cost of 75p, whereas the market price of plaster is £5. - If they've to buy the plaster from an outside supplier, extra cost will be £4.25 (5-0.75) because the 75p they'll incur anyway (either producing internally or buying from an outside supplier) - Therefore the relevant cost is the extra cost of buying which is £4.25. Hope this helps.

Hi, thank you for the query. You always have to use the budgeted contribution per unit because the standards are set by the top management of the company so they would want to know (the variance) or how much they've gained or lost in their money value and not in the actual money value. If you refer material usage variance or labour efficiency variance, we use the standard rate and not the actual rate for the same reason I've mentioned above. So the rule is in standard costing when you convert any variance in money value you must use the standard rate. I think I've mentioned this in one of my videos but sorry can't remember exactly on which one. Hope this helps.

@@managementaccountingmadeea5236 thank you so much😍💓

Many thanks, please bear with me I'll upload more videos.

Many thanks for the comment, I'll be uploading my next one soon.

Many thanks for the lovely comment. I'll try and upload more videos soon.

Thank you so much. Please bear with me, I'll upload more for you.

Thanks for the comment. I'll try and upload more videos.

Thank you, I'll be uploading more for you guys.

@@managementaccountingmadeea5236 Thanks so much

Many thanks. I'll try and upload more videos for you.

Many thanks for the lovely comment, I'll definitely upload as many as I can.

Thank you, I'll try and upload more videos.

Many thanks for your comment, I'll definitely try.

Hey, if you visit 'Management Accounting Made Easy' it's all published there. Thanks

Many thanks for the lovely comment

Many thanks, Josphat. Sorry for the delay in posting, I'll try and post ASAp.

M Thank you. Please find the part-2 link ruclips.net/video/BistEYYrUYQ/видео.html

Hi Samira, many thanks for your comment. I've been really busy these days, but will upload my next one soon.